FX.co ★ North Macedonia Industrial Output Falls in February

Industrial production in North Macedonia fell by 4.2% year-on-year in February 2026, moderating from a 6.6% drop in January. Energy output contracted sharply by 19%, reversing a 2.5% increase in the previous month. Production of durable consumer goods declined further (-12% versus -10.5%), while the contraction in non-durable consumer goods eased (-6.9% versus -11.9%).

In contrast, output rose for intermediate goods excluding energy (0.2% versus -4.2%) and for capital goods (2.1% versus -5.2%). By sector, production fell in mining and quarrying (9.6% versus 2.5%) and in utilities (17.2% versus 2.8%). Meanwhile, the decline in manufacturing activity eased to 1.9%, compared with an 8% drop in the previous month. Over the first two months of the year, industrial output was down 5.3% compared with the same period a year earlier.